AECI released its financial results for the year ended 31 December 2019. Revenue increased by 6.37% from R23.3 billion (FY2018) to R27.8 billion. Of the group’s total revenue, 40% was generated outside of South-Africa.
Overall volumes grew by 1% due to successful tenders in the second half-year. Profit from operations increased by 58% to R190 million (2018: R120 million). The result was enabled by the improved quality of the business, with customer and product rationalisation assisting the operating margin recovery to 13.1% (2018: 8.7%)
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